Jan 15

Why Choose Us for Your Retirement Needs?

Expertise: The IRA Financial Group was founded by a group of top law firm tax and ERISA lawyers who have worked at some of the largest law firms in the United States, such as White & Case LLP, Dewey & LeBoeuf LLP, and Thelen LLP. With our work experience at some of the largest law firms in the country, our tax professionals’ retirement plan and tax knowledge in this area is unmatched.

Leadership: IRA Financial Group is the market’s leading* Self-Directed IRA and Solo 401K Plan provider. We have helped over 8,000 clients establish IRS compliant Self-Directed IRA and Solo 401k Plans and invest over $2.6 billion in alternative assets, such as real estate.

Prestige: IRA Financial Group and its founders have been featured on CBS News, PBS Nightly Business Report, and in over 100 major print publications, including Forbes, Fox Business, the Wall Street Journal, CNN Money, USA Today, The San Francisco Chronicle, Dallas Morning News, Law.com, American Lawyer, the Houston Chronicle, the Chicago Tribune, and many more.

Value: With IRA Financial Group, you no longer have to incur excessive fees to establish and administer an IRS compliant Self-Directed IRA LLC or Solo 401k Plan. We are committed to offering our clients customized professional services at a fair and reasonable price and we are able to deliver this by harmoniously blending professionalism, quality and efficiency.

Our Promise: If for any reason you elect to not go through with the Self-Directed IRA LLC structure or Solo 401(k) Plan, you will not be responsible for paying our one-time set-up fee – it’s that simple – no questions asked! Cancel anytime – we understand that in some cases plans change or an anticipated transaction does not materialize and we certainly don’t believe it would be fair to our clients to impose a fee for a structure that won’t be needed.

Access: When choosing the IRA Financial Group, you will have direct and unlimited access to our in-house tax and ERISA professionals, as well as our in-house CPAs. Unlike our competitors, we don’t limit your access to our tax professionals; in fact, you will likely have the opportunity to talk with one of them before you even get started. In addition, each client of the IRA Financial Group is assigned a retirement tax professional to assist in establishing an IRS compliant Self-Directed IRA LLC or Solo 401k Plan structure.

Security: IRS rules require your retirement funds to be transferred from custodian to custodian. We at the IRA Financial Group never have access to your retirement funds in any way. You, as the manager of the IRA LLC or trustee of the 401(k) Plan, will be the only party with direct access to your retirement funds – true “Checkbook Control”.

Integrity: We are guided by the rules of ethical conduct in all that we do. Our relationships with clients are built on trust, respect, and confidentiality.

Results: We are committed to our clients’ satisfaction and strive to meet and exceed our clients’ expectations.

Guarantee: The IRA Financial Group is fully committed to offering IRS compliant self-directed retirement structures and accordingly offers a full IRS audit guarantee in connection with the validity of the Self-Directed IRA LLC and Solo 401(k) Plan. The IRA Financial Group stands by the legality of the Self-Directed IRA LLC and Solo 401(k) Plan and will fully defend its merits against any IRS audit.

We respect your time! You will never be pestered by a salesperson or receive unsolicited emails!

The mission of IRA Financial Group is to empower prospective clients with relevant information needed to make informed decisions on investment activities conforming to tax law and IRS rules.

We leave the ball in your court to decide if you wish to proceed with us. Of course, we would welcome the opportunity to work with you. If you decide to be our client, we will be here for you step-by-step to set up the right structure for you and to help to make sure you implement it correctly.

Once again, we will not send unsolicited follow-up communications from our tax experts – we just respect your privacy and time.

Get started today: Getting started is quick, easy, and inexpensive. We take a small deposit up front to cover LLC state filing fees or Solo 401(k) Plan establishment costs, and our one-time set-up fee is only due once the structure has been established. In addition, our fee can be paid in full using your retirement funds.

Self Directed IRA LLC, Solo 401K, Business Acquisition Solution

IRA Financial Group will take care of setting up your entire IRS compliant Self-Directed IRA LLC or Solo 401K Plan. The whole process can be handled by phone, email, fax, or mail and typically takes between 7-21 days to complete, the timing largely depending on the state of formation and the custodian holding your retirement funds. Our tax and ERISA professionals are on-site greatly reducing the set-up time and cost. Most importantly, each client of the IRA Financial Group is assigned a retirement tax professional to help with the establishment of the Solo 401k Plan. You will find that our fee for this service is significantly less than other companies that perform the same or similar services.  For more information, please contact us @ 800.472.0646 today!

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Oct 10

The Mission of the IRA Financial Group

The Mission of IRA Financial Group is:

  • to create exceptional value for our customers by harmoniously blending professionalism; quality and efficiency;
  • to deliver highly customized client services at an affordable price;
  • to adhere to the highest ethical standards;
  • to exceed our clients’ expectations.

Because of our core values our clients have come to rely on our self-directed retirement services, year after year.

At IRA Financial Group, we never forget that this is a client-service business, and that our highest and best use is measured by the satisfaction we bring to those who call on us for self-directed retirement solutions.

Our clients are our top priority, and their interests come first.

There are 5 Client Service Principles that guide our business.

Practice Excellence – We demand excellence from ourselves, and are committed to providing our clients with top-tier customized self-directed retirement solutions

Value – We strive to offer our clients customized professional services at a fair and reasonable price

Act with Integrity – We are guided by the rules of ethical conduct in all that we do. Our relationships with clients are built on trust, respect, and confidentiality.

Innovate – We anticipate the changing tax and financial needs of our clients and creatively adapt our services to address them.

Deliver Results – We are committed to our clients’ satisfaction and strive to meet and exceed our clients’ expectations.

 

Self Directed IRA LLC, Solo 401K, Business Acquisition Solution

 

Please contact one of our IRA Experts at 800-472-0646 for more information.

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Jun 12

FBAR reporting for self-directed IRA LLC investors with a foreign bank account is due by June 30th

If your retirement account has a financial interest in or signature authority over a foreign financial account, including a bank account, brokerage account, mutual fund, trust, or other type of foreign financial account, the Bank Secrecy Act may require you to report the account yearly to the Internal Revenue Service by filing Form TD F 90-22.1, Report of Foreign Bank and Financial Accounts (FBAR) by June 30, 2013.” The FBAR is required because foreign financial institutions may not be subject to the same reporting requirements as domestic financial institutions. The FBAR is a tool to help the United States government identify persons who may be using foreign financial accounts to circumvent United States law. Investigators use FBARs to help identify or trace funds used for illicit purposes or to identify unreported income maintained or generated abroad.

FBAR reporting for self-directed IRA LLC investors with a foreign bank account is due by June 30thIn general,unless an exception applies, all United States persons are required to file an FBAR if: (i) The United States person had a financial interest in or signature authority over at least one financial account located outside of the United States; and (ii) The aggregate value of all foreign financial accounts exceeded $10,000 at any time during the calendar year to be reported. According to the Internal revenue Service, a financial interest arises when the owner of record or holder of legal title; the owner of record or holder of legal title is the agent or representative; or the U.S. person would have a sufficient interest in the entity that is the owner of record or holder of legal title.

According to the IRS, an IRA and 401(k) Plan would generally exempt from filing the FBAR form.  However, it is unclear whether a Self-Directed IRA LLC would be exempt from the FBAR requirement since the exception only states  “IRA owners and beneficiaries” and there is no guidance as to whether the IRS would view the LLC as separate and distinct from the IRS.  As a result, self-directed IRA LLC clients with foreign bank accounts should contact their tax accountant for additional information on the FBAR filing requirements.

In addition, taxpayers with specified foreign financial assets that exceed certain thresholds must report those assets to the IRS on Form 8938, Statement of Specified Foreign Financial Assets. The new Form 8938 filing requirement does not replace or otherwise affect a taxpayers requirement to file FBAR. The Form 8938 is due when the taxpayer’s income tax return is filed, including extensions.

If one buys foreign real estate and holds it via a foreign corporation that itself is owned by a retirement account, IRS Form 5471 will likely have to be filed since the retirement account will own an interest in a foreign corporation.

For more information on the foreign reporting rules in connection with using a self-directed IRA, please contact a retirement tax specialist at 800-472-0646.

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Feb 11

What are the Rollover rules for Roth IRA?

The contribution limitation does not apply to a “qualified rollover contribution,” but no rollover contribution other than a qualified rollover contribution is permitted. The term “qualified rollover contribution” includes only the following:

  • A rollover contribution from another Roth IRA.
  • A rollover contribution from a traditional IRA that satisfies the requirements for a rollover from one traditional IRA to another.
  • A rollover contribution from a qualified pension, profit-sharing, stock bonus, or annuity plan (qualified plan), tax-deferred annuity, or eligible deferred compensation plan that satisfies the requirements for rollovers from the particular type of plan.
  • A contribution to a Roth IRA by an individual who has received a military death gratuity.

Rules for rolling a traditional IRA into a Roth IRAA qualified rollover must satisfy all of the requirements for rollovers of and into IRAs generally, which means, for example, that a rollover contribution must made within 60 days of the rolled-over distribution and the rollover privilege is denied to beneficiaries of IRA owners (other than surviving spouses). For years beginning before 2010, an individual may not make a qualified rollover from a traditional IRA, qualified plan, tax-deferred annuity, or eligible deferred compensation plan to a Roth IRA for his or her benefit if his or her adjusted gross income for the year exceeds $100,000.

Please contact one of the Roth IRA Experts at the IRA Financial Group at  800-472-0646 for more information.

Jan 31

Using Your IRA Funds to Purchase a Business

Leaving your job or thinking of leaving your job and have an IRA or 401(k) qualified retirement plan? Why not use your IRA or 401(k) Plan to invest in yourself instead of a volatile stock market? Why put your hard earned retirement funds in the hands of Wall Street when you can use your IRA funds on a business you can run, manage, and even earn a salary from?

How to Use My IRA Funds to Buy a BusinessWith IRA Financial Group’s Business Acquisition structure, a new C Corporation is formed which will adopt a 401(k) Qualified Plan. Your existing retirement funds can then be rolled into the newly adopted 401(k) Plan tax-free. The 401(k) Plan will then purchase the stock of the new corporation. The new corporation will then use those funds to purchase a new business or franchise tax-free!

With the IRS compliant Business Acquisition Structure, you can earn a reasonable salary from your new business or franchise. You can also use your new 401(k) Plan to make high tax-deductible contributions – $52,000 ($57,500 if you are over the age of 50) or even borrow up to $50,000 for any purpose.

What does the IRS Say about this?

The Internal revenue Code explicitly permits the purchase of corporate stock by a 401(k) Qualified Plan. The IRS has repeatedly confirmed that the structure is legal but has expressed some concern about the potential for abuse by individuals not being properly advised by tax professionals. For example, the IRS has documented the following instances of abuse when it comes to using retirement funds to invest in a business: (i) employees of the business are not properly informed that a 401(k) qualified plan has been adopted by the business and that they are eligible to participate, (ii) the structure is established with no intention to use for business purpose and the sole purpose for establishment was to get access to the retirement funds without penalty, or (iii) the structure is being used to purchase assets for personal use with the retirement funds.

Therefore, the IRS has stressed that it is imperative that when using IRA or 401(k) funds to establish a new business or finance an existing one, it is important to work with qualified tax professionals who have experience in this area and could make sure the structure is established in full compliance with IRS and ERISA rules and procedures. Work with IRA Financial Group’s in-house tax professionals to help establish your IRS compliant Business Acquisition Solution.

IRA Financial Group’s Business Acquisition structure is IRS compliant and is the only legal structure that one can use to invest retirement funds into a business they will operate and be employed by. With a self-directed IRA LLC, an individual can invest retirement funds in a private business, but not a business that he or she would be involved in – that would be considered a prohibited transaction pursuant to Internal Revenue Code 4975. While, with a Solo 401K, an individual could only borrow up to $50,000 or 50% of his or her account value whichever is less and use that loan for any purpose, including starting or financing a business. However, if an individual requires more than $50,000 for a business, then the Business Acquisition structure is the only solution that will allow one to use their retirement funds to start or finance a business tax-free and without penalty!

To learn more about the advantages of using a Business Acquisition Structure to start or finance a business using retirement funds, please contact a retirement expert at 800-472-0646.

Jan 30

President Obama’s MyRA Proposal Would Negatively Impact American Retirees

MyRA retirement account to have a government guarantee but offer low returns and limited investment options

On January 28, 2014, in his State of the Union address, President Barack Obama indicated that he is directing the Treasury Department to create a new type of retirement savings account for millions of Americans that would include a government guarantee. These investments, which Mr. Obama called “myRAs,” would serve as a type of starter retirement savings account for millions of Americans. The accounts, called “myRAs,” would be structured like savings bonds and the investments would be backed by the federal government. Because the investments would be structured like savings bonds, there would be principal protection, meaning the account balance couldn’t go down. According to Adam Bergman, a tax partner with the IRA Financial Group, “The White House didn’t offer detailed information of how the retirement account would be structured, but indicated it would be relatively low risk, meaning the returns would also be fairly low.”

President Obama MyRA Proposal Would Negatively Impact American Retirees, According to IRA Financial Group “The problem with the MyRA proposal is that the returns generated by the account will be so low that in most cases it won’t provide Americans with a reasonable nest egg for retirement,” stated Adam Bergman. According to Mr. Bergman, “It is believed that the investments under the myRA proposal would offer the same variable interest-rate return as the benefit federal employees get when they enroll in the Thrift Savings Plan Government Securities Investment Fund, which produced an annual return of 1.47% in 2012.”

“The myRA accounts would be geared toward to people who are just starting to save for retirement, however, those same people would be better off investing in a Traditional or Roth IRA where they have a wide variety of investment options, such as stocks, mutual funds, gold, and even real estate,” stated Mr. Bergman. “With the S&P up nearly 30% in 2013, being forced to invest in U.S. Government Bonds, which lost 2% in 2013 does not seem like a smart way to help people better save for their retirement,” stated, Mr. Bergman.

According to Mr. Bergman, “The MyRA retirement account, which the White House plans to create the accounts through an executive action, meaning it wouldn’t need congressional approval, is akin to forcing Americans to purchase Government Bonds and limit their investment options. The lack of retirement savings now is not the result of inadequate retirement account options, but a by-product of stagnate wages and a lack of education on the benefits of tax-deferral or tax-free retirement growth.”

The IRA Financial Group was founded by a group of top law firm tax and ERISA lawyers who have worked at some of the largest law firms in the United States, such as White & Case LLP, Dewey & LeBoeuf LLP, and Thelen LLP.

IRA Financial Group is the market’s leading self-directed Solo 401(k) Plan provider. IRA Financial Group has helped thousands of clients take back control over their retirement funds while gaining the ability to invest in almost any type of investment, including real estate without custodian consent.

To learn more about the IRA Financial Group please visit our website at http://www.irafinancialgroup.com or call 800-472-0646.

Aug 29

What separates the IRA Financial Group from everyone else?

The IRA Financial Group is owned and operated by tax and ERISA professionals who have worked at some of the largest law firms in the United States, including White & Case LLP and Dewey & LeBoeuf LLP. As a result, our retirement tax professionals’ tax and IRA knowledge in this area is unmatched.

Attorney Direct Tax Consultation Service for All Self-Directed IRA ClientsUnlike our competitors, our tax and ERISA professionals are always available to answer client questions and regularly attempt to field all incoming customer phone or email inquiries. When choosing the IRA Financial Group, you will have direct and unlimited access to our in-house tax and ERISA professionals. Each client of the IRA Financial group is assigned a retirement tax professional in order to ensure that the tax structure established is in compliance with IRS rules. Because we are owned and operated by tax and ERISA professionals, we are able to do all necessary IRA rollover or transfer paperwork and consultation in-house, allowing us to expedite the process from start to finish for significantly less than our competition.

Our retirement tax professionals have helped thousands of clients establish IRS compliant Self-Directed IRA LLC and Solo 401(k) Plan structures.

Talk to one of our retirement tax professionals today and begin experiencing the benefits of tax-free investing!  Please contact one of our IRA Experts at 800-472-0646 for more information.  Be sure to follow us on Twitter @BergmanIRA, as well as the IRA Financial Group @IRAFG!

Mar 26

IRA Financial Group Announces Miami Office Expansion & Relocation to Landmark Lincoln Road Building

IRA Financial Group, the leading facilitator of Self Directed IRA and Solo 401(k) Plans is pleased to announce the expansion and relocation of its Miami office to the landmark Lincoln Road Building – 1688 Meridian Avenue, the city’s premier business and shopping location.

Commenting on the Miami office move, partner Adam Bergman, said: “We are excited to be in a spectacular building in a prime location in the heart of the City of Miami Beach. The move underlines our intention to invest further in our Miami office where we have a very strong and expanding team of employees.” “With offices in Miami and New York City, IRA Financial Group has been able to assist thousands of clients invest over $1.2 billion of retirement funds in non-traditional investments over the last few years, “ stated Mr. Bergman.

He continued: “Our new expanded office provides us with high quality, flexible office space with room to expand. The move will enable us to support our current client needs as well as offer us the needed space to continue to provide high quality self-directed retirement services to our increasing expanding client base.”

Lincoln Road Mall is a pedestrian-only promenade and the epicenter of what’s happening in South Beach. Located between Alton Road and Washington Avenue, Lincoln Road offers unique shopping, sidewalk cafes, bars, galleries, and fine dining.
About the IRA Financial Group

The IRA Financial Group was founded by a group of top law firm tax and ERISA lawyers who have worked at some of the largest law firms in the United States, such as White & Case LLP, Dewey & LeBoeuf LLP, and Thelen LLP. With our work experience at some of the largest law firms in the country, our attorneys legal and tax knowledge in this area is unmatched.

IRA Financial Group is the market’s leading “checkbook control Self Directed IRA and Solo 401K Facilitator. IRA Financial Group has helped thousands of clients take back control over their retirement funds while gaining the ability to invest in almost any type of investment, including real estate without custodian consent.

To learn more about the IRA Financial Group please visit our website at http://www.irafinancialgroup.com or call 800-472-0646.

Dec 25

Happy Holidays

Just wanted to take a minute to wish everyone a very happy and joyous holiday season from the Bergman IRA Report.  Hope everyone had a Happy Hanukkah, a Merry Christmas and a Happy Kwanzaa.  Check back in tomorrow and the rest of the year to help get your retirement goals set for the end of 2012 and the start of 2013.

Contact the IRA Financial Group now to get off on the right foot for a prosperous new year!

Nov 06

Surviving Sandy

Hope all is well with everyone after Hurricane Sandy.  I’m in Jersey myself and lost power until Saturday, but we made it through with just a little inconvenience, others weren’t so lucky.  The IRA Financial Group sends out their best wishes for those who have lost so much.  Please, if you can, donate to the Red Cross at redcross.gov.  Every little bit helps!

Don’t forget to get out there and vote today!